SK Ecoplant Acquires SK Materials Airplus and Essencore

Comprehensive Stock Exchange Proposal
Approved at the Special General Meeting on the 2nd
"Expecting Business Synergy and Sales Growth"

SK ecoplant has acquired SK Materials Airplus, an industrial gas company, as a subsidiary. The company plans to accelerate the enhancement of corporate value by strengthening its business portfolio.

On the 2nd, SK ecoplant announced that the comprehensive stock exchange agenda for SK Materials Airplus was approved at an extraordinary general meeting held at its headquarters in Susong-dong, Jongno-gu, Seoul. SK ecoplant will issue new shares in exchange for SK's 100% stake in SK Materials Airplus.

SK ecoplant explained, "The positive evaluation from shareholders appears to reflect market expectations such as business synergy between the two companies following the incorporation of SK Materials Airplus as a subsidiary, increased sales, improved profitability, and enhanced financial stability."

SK Materials Airplus is a company that manufactures and supplies industrial gases such as nitrogen, oxygen, and argon used in the semiconductor industry. It secures a stable profit structure through a business model of long-term supply of industrial gases and liquefied carbon dioxide. Facilities are established near industrial complexes or customer sites where demand for industrial gases is concentrated, making it easy to combine and utilize SK ecoplant’s plant design and construction capabilities. Expansion of new customers through industrial complex development is also possible.

Essencore, a semiconductor module company, will also be incorporated as a subsidiary. Essencore manufactures and sells memory products worldwide, including DRAM memory modules, SSDs, SD cards, and USBs. Through collaboration with SK ecoplant’s recycling specialist subsidiary SK tes, additional feedstock volume and distribution network expansion are possible in recycling business areas such as electronic and electrical waste and IT Asset Disposition (ITAD) services.

In particular, with large-scale investments planned in the semiconductor sector due to the development of artificial intelligence (AI), SK ecoplant plans to continuously expand its role in the semiconductor value chain by combining its semiconductor infrastructure development capabilities with the business strengths of SK Materials Airplus and Essencore.

The subsidiary incorporation procedures for SK Materials Airplus and Essencore are expected to be completed by November 1.

An SK ecoplant official stated, "Through this subsidiary incorporation, we will create synergies in various fields such as semiconductors, AI, and environmental businesses, enhance financial stability, and continuously improve corporate value."